BTC Sell a break setup.
Bitcoin - Intraday - We look to Sell a break of 57987 (stop at 59019)
Short term bias has turned negative.
We are trading at overbought extremes.
There is no clear indication that the downward move is coming to an end.
A break of the recent low at 58100 should result in a further move lower.
The trend of higher intraday lows has also been broken.
50 1day EMA is at 54000.
Our profit targets will be 55055 and 54054
Resistance: 60000 / 61800 / 63000
Support: 58000 / 56800 / 55000
Short term bias has turned negative.
We are trading at overbought extremes.
There is no clear indication that the downward move is coming to an end.
A break of the recent low at 58100 should result in a further move lower.
The trend of higher intraday lows has also been broken.
50 1day EMA is at 54000.
Our profit targets will be 55055 and 54054
Resistance: 60000 / 61800 / 63000
Support: 58000 / 56800 / 55000
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